Branson's Grand Village sold

A private investor group closed this month on the purchase of the Grand Village Shops retail development.

Evanston, Ill.-based CenterCore Properties LLC, along with principals of Branson-based Commercial 1 Brokers, purchased the retail center May 1 for an undisclosed amount from Chicago-based   Courte Partners, said Pam Critchfield, Grand Village’s eight-year marketing director and a member of the acquisition group.

Critchfield said the sale was prompted by Green Courte Partners’ decision to tighten their focus on construction and large parking lot projects.

“They were at a place where they were ready to sell,” she said.

The acquisition group also purchased an adjacent 10-acre land parcel from Green Courte Partners. Critchfield said no decision has been made or timeline set on development of the land.

The 50,000-square-foot Grand Village Shops is completely occupied with 19 tenants including Mel's Hard Luck Diner, Kringles Christmas Shop and Peter Engler Designs, Critchfield said.

Commercial 1 principals Steve Critchfield and Bob Huels co-manage the ownership group and will serve as its leasing representative and sister company. Maples Properties of Branson will continue to manage the center.

Herschend Family Entertainment Corp. developed Grand Village in 1994, and Green Courte Partners purchased the center from Branson-based HCW LLC in 2005, Pam Critchfield said. The retail center is adjacent to the Grand Palace on Highway 76.

A former Green Courte partner, Bob Duncan, struck out on his own to launch CenterCore Properties, she said.

“I am proud to have been involved with Grand Village for the past seven years, as a principal of the center’s previous owner, and I’m excited for my new firm to have the opportunity to own this unique asset and to continue and build upon its special tradition and appeal to Branson visitors,” said Duncan, who is president of CenterCore, in a news release.[[In-content Ad]]